TransCanada PipeLines Considers US Junior Subordinated Notes Offering

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(RTTNews) - TC Energy Corporation (TRP), Monday announced that its subsidiary TransCanada PipeLines Limited is considering an offering of U.S. Junior Subordinated Notes.

If completed successfully, the company intends to use the net proceeds to redeem its issued and outstanding Cumulative Redeemable First Preferred Shares, Series 11, as well as reduce debt.

However, there is no certainty that TransCanada will ultimately complete the offering being considered or as to the timing or terms on which such an offering might be completed.

Currently, TRP is trading at $54.78, down 0.60 percent on the New York Stock Exchange.